- Personal Finance
Save money easily
Penny pinching is COOL!
Live well economically
To begin with, the easiest way to save money is by recognizing which things do not save you money. Some things appear to be bargains, but they are not.
AVOID FALSE ECONOMY
- Large sizes of things like soap powder and breakfast cereal may offer a minute saving. Take your calculator shopping with you to find out if this is really the case. It is surprising how often it is not, so do not assume you are automatically saving money by buying a large pack. The manufacturers know you think that way. They take advantage of knowing you probably won't bother to calculate the true cost. So check the price, always.
- There is another disadvantage to buying large packs of groceries. it is the psychological one. With a large pack, we tend to use more of whatever is in the package, be it powdered milk or washing powder. So this is another way in which the tiny saving gained by buying a large pack may be wiped out.
- Yet a third way in which the large pack can be a disadvantage (even without the hassle of dragging an enormous package home with you), is that you will not return to the store as often as you otherwise might, if you ran out of the commodity sooner, and in this way you will miss out on other special offers, last minute deals and price cuts, which only last a few days or a few hours ... or minutes!
- Large sizes in bottles of alcohol or perfume are always a false economy. Both alcohol and perfume evaporate in air and you will lose a little every time you open the bottle. Perfume goes rancid after a while and does not smell the same, so you should never buy a large bottle.
- It is absolutely a false economy to sacrifice good food for junk food in order to save money. Bad health will eventually cost you more, and, in any case, you can eat well at a reasonable price.
The 100% discount!
If there is something you really want, don't take a chance. Pay full price if you really have to - it tastes better than the bitter pill of disappointment!
However, if you can do without something you can afford to haggle or wait until the price comes down before you buy.
The hundred per cent discount comes when you don't buy the product at all. Sleep on your decision. In the cold morning light you will make a clearer decision, unaffected by the sales hype and the shopping fever. Take full advantage of the cooling off period that comes with online purchases and ask yourself if you can make or borrow that thing you were going to buy.
Sleep on it!
The late bird catches the bargain
As with the sushi example below, it is often a good idea to show up in the food shop, close to closing time. That is when the fresh food about to exceed its sell by date is marked down in price, often considerably. You win two ways here. On the one hand you can pick up the food you usually buy at a bargain price, but you also get to try things that you might not have tried before (perhaps you were put off by their high price). I have discovered some wonderful new taste experiences that way. Always remember, penny pinching should be cool and fun!
This aspect of penny pinching is also something of an art. You need to time your visit precisely. Arrive too late and the bargains have disappeared into the baskets of more savvy shoppers. Get there too early and you miss the really massive discounts.
Develop a thick skin
Ask for a discount
As the video shows, undoubtedly the way to obtain a discount, most often, is to ask for one. This takes a little practice and confidence if you are a shy animal like me. Once you get into the habit of it, it will be become more and more easy. Be warned: your friends may refuse to shop in your company, if they are embarassed by your new found financial chutzpah!
Save on Supplements
Many people keep the doctor away and save on medical bills with preventive vitamin supplementation. This is a good policy, but, the vitamin supplements themselves can cost a lot of money.
- Consider changing over to a raw food diet. Raw food retains many of the essential nutrients that normally get destroyed in cooking. If you take up a raw food diet you should be able to reduce considerably the amount you spend on extra vitamins and other supplements.
- An easy source of raw food is sushi. This looks expensive but, if you like to eat Japanese food find out when the sushi restaurant closes. They will normally sell the sushi half price in the hour before they close.
Make your own vitamin and mineral "pill"
Buy fresh raw liver. Beef liver is best, because its nutrients are more available. Chop it into tiny chunks which you then freeze for two weeks. After that, swallow one or two of your "pills" when you need a pick-me-up.
Cheaper cuts are better
You will get extra nutrition from your meat and also save lots of money if you choose the cheaper cuts from your butcher. Wild animals eat the liver and heart from their prey and discard the muscle meat. This is the opposite of what humans do, but the lions and tigers know they are consuming the most nutritious part of the animal.
SAVE ON FUEL
- With things that run on electricity, stopping and starting tends to be more expensive than cruising. So consider having lower lighting, left on for longer, rather than bright lights that you switch on and off in the hope of saving money. This also applies to cars. Save fuel by cruising wherever you can and avoid sudden acceleration and sharp braking, which is bad driving in any case.
- Computers may be the exception where electricity is concerned. Leaving them fully turned on may be more expensive. Choose a sleep or standby option or turn it off when it is not in use.
- Do not throw out your fashionable clothes when they go out of fashion. Styles come around again, sometimes quite quickly, and you will be able to wear your stuff again.
Around the house:
- This is a great tip: There is simply nothing better than a pad of damp newspaper for cleaning glass, mirrors and porcelain. Cost nothing, zilch, zero.
You may not need a refrigerator
These devices are automatically included in the list of furniture for every home, but you may not actually need one.
- If you live close to the supermarket and can shop every day, you almost certainly don't. Let the supermarket pay for the privilege of buying and running these expensive commodities.
- For entertaining you can pick up a bag of ice from the supermarket freezer to cool your drinks. This will almost certainly work out cheaper than maintaining a freezer or fridge freezer twenty four seven.